11 NCAC 16 .0103. NONFLEET PRIVATE PASSENGER AUTOMOBILE INSURANCE

All companies writing North Carolina nonfleet private passenger automobile insurance shall collect the statistical data described in this Rule and shall report such data to their statistical agent in a timely fashion.  The statistical agents shall thereupon provide the data on a combined basis to the Actuarial Services Division.  (Note:  If any data required by this Rule are not being collected and reported, or are not readily available to an individual company prior to January 1, 1992, then the company shall commence as of that date to collect and report such data prospectively.)

(1)           Premium, Exposure, Loss, and Claim Experience.  Provide written and earned exposures, written and earned premiums, number of paid and incurred claims, and paid and incurred total limit losses biannually for each of the latest six accident or calendar half‑years in the following detail:

(a)           by coverage (bodily injury, property damage, medical payments, uninsured motorist, underinsured motorist, comprehensive, or collision);

(b)           by type of exposure (voluntary, involuntary, standard, or substandard);

(c)           by territory;

(d)           by class;

(e)           by limit/deductible;

(f)            by cause or type of loss for comprehensive coverage.

(2)           Loss and Premium Experience by Zip Code.  Provide data by zip code annually in the following detail:

(a)           calendar year written premium for all coverages combined;

(b)           accident year incurred losses and incurred claims valued at 15 months for bodily injury and property damage coverages;

(c)           calendar year incurred losses and incurred claims for comprehensive and collision coverages;

(d)           calendar year voluntary written exposures separately for bodily injury and property damage, comprehensive, and collision;

(e)           calendar year involuntary written exposures for bodily injury and property damage;

(f)            calendar year substandard written exposures for comprehensive and collision;

(g)           calendar year written exposures for bodily and property damage by class.

(3)           Loss Trend Experience.  Provide earned exposures, earned premiums, number of paid or incurred claims, paid or incurred losses, loss frequency, and loss severity for each of the latest 16 three‑month and twelve‑month calendar periods ending quarterly in the following detail:

(a)           For bodily injury coverage:

(i)            basic limits and total limits paid trends including allocated loss adjustment expense;

(ii)           basic limits and total limits paid trends excluding allocated loss adjustment expense;

(iii)          basic limits and total limits incurred trends including allocated loss adjustment expense;

(iv)          basic limits and total limits incurred trends excluding allocated loss adjustment expense.

(b)           For property damage coverage, the same trends provided for bodily injury.

(c)           For medical payments coverage, total limits paid trend excluding allocated loss adjustment expense.

(d)           For uninsured motorist bodily injury coverage:

(i)            total limits paid trend excluding allocated loss adjustment expense;

(ii)           total limits incurred trend excluding allocated loss adjustment expense.

(e)           For comprehensive coverage:

(i)            paid trend excluding allocated loss adjustment expense for exposures with no deductible;

(ii)           paid trend excluding allocated loss adjustment expense separately for exposures with deductibles of fifty dollars ($50.00), one hundred dollars ($100.00), two hundred dollars ($200.00), two hundred fifty dollars ($250.00), five hundred dollars ($500.00), and one thousand dollars ($1000.00);

(iii)          paid trend excluding allocated loss adjustment expense for all exposures not otherwise included.

(f)            For collision coverage:

(i)            paid trend excluding allocated loss adjustment expense separately for exposures with deductibles of fifty dollars ($50.00), one hundred dollars ($100.00), two hundred dollars ($200.00), two hundred fifty dollars ($250.00), five hundred dollars ($500.00), and one thousand dollars ($1000.00);

(ii)           paid trend excluding allocated loss adjustment expense for all exposures not otherwise included.

(4)           Liability Loss Development Experience.  Provide loss and earned exposure data for fiscal accident years ending June 30 and December 31 at annual evaluation dates from 15 to 63 months for at least ten years in the following detail:

(a)           For bodily injury and property damage coverages (separately for voluntary business and for business ceded to the North Carolina Reinsurance Facility, and on a combined basis):

(i)            basic limits paid losses;

(ii)           basic limits incurred losses;

(iii)          total limits paid losses;

(iv)          total limits incurred losses;

(v)           paid claims;

(vi)          incurred claims;

(vii)         estimated (actual if available) earned premium for the corresponding calendar year;

(viii)        estimated (actual if available) earned exposures for the corresponding calendar year.

(b)           For medical payments coverage (separately for voluntary business and for ceded business, and on a combined basis):

(i)            total limits paid losses;

(ii)           total limits incurred losses;

(iii)          paid claims;

(iv)          incurred claims;

(v)           estimated (actual if available) earned premium for the corresponding calendar year;

(vi)          estimated (actual if available) earned exposures for the corresponding calendar year.

(c)           For uninsured and underinsured motorist coverage:

(i)            total limits paid losses;

(ii)           total limits incurred losses;

(iii)          paid claims;

(iv)          incurred claims;

(v)           estimated (actual if available) earned premium for the corresponding calendar year;

(vi)          estimated (actual if available) earned exposures for the corresponding calendar year.

(5)           Physical Damage Age and Symbol Trend Experience.  Provide the average age and symbol value for each of the latest twenty half‑year periods ending June 30 and December 31 for the following coverages:

(a)           full coverage comprehensive;

(b)           comprehensive coverage with a fifty dollar ($50.00) deductible;

(c)           comprehensive coverage with a one hundred dollar ($100.00) deductible;

(d)           collision coverage with a one hundred dollar ($100.00) deductible;

(e)           collision coverage with a two hundred fifty dollar ($250.00) deductible;

(f)            collision coverage with a five hundred dollar ($500.00) deductible.

 

History Note:        Authority G.S. 58‑2‑40; 58‑2‑190;

Eff. December 1, 1990.